Precious Metals Surge on US Treasury Action

Gold and silver prices rallied significantly after the U.S. Treasury Department announced it would buy back more longer-term bonds in an effort to curb rising borrowing costs. The move prompted a sharp decline in U.S. Treasury yields and a broad weakening of the U.S. Dollar, which fell to its lowest level since mid-May. In response, gold surged to its highest price since early June, while silver posted gains of over 5%.

Geopolitical Tensions Escalate

Market participants monitored an increase in geopolitical risk following the U.S. President's announcement of a "crushing economic operation" against Iran. The stated action signals a significant escalation in economic pressure and isolation measures against the nation. This development adds a layer of uncertainty to global markets, alongside ongoing trade discussions, such as potential U.S. tariffs on Canadian auto imports.

US Debt and Global Economic Data in Focus

Against the backdrop of the market-moving Treasury news, reports confirmed that the U.S. national debt has crossed the $40 trillion threshold. Elsewhere, international economic indicators were released, with Japan reporting a 23.2% year-over-year increase in exports for July. Analysts are also awaiting Australia's July employment report, with expectations for the unemployment rate to remain steady.